Michael Webber of Wells Fargo Securities says the day rate and duration tied to the 3,426-teu Sagitta (built 2010), which the Danish carrier hired for up to 11 months at $7,250, illustrates the ongoing deterioration of the liner market.
In a research note emailed to investors the equity analyst told clients that he expects containership rates to remain soft in the “near-to-intermediate term” given excess capacity and muted demand.
“The
